Question
In: Economics
67. a. Compute the Future value for Principal value of $17,500 with annual interest rate 7.75%...
67.
a.
Compute the Future value for Principal value of $17,500 with annual interest rate 7.75% compounded monthly at the end of 8 years.
| a. |
$30,495.25 |
|
| b. |
$31,329.20 |
|
| c. |
$32,466.45 |
|
| d. |
$33,110.50 |
b.
Alec and Lexi compute that they will need $20,000 in 4years to build to remodel their kitchen. How much should they invest now at 5.5% interest compounded quarterly to have the $20,000 in 4years?
| a. |
$ 13,328.60 |
|
| b. |
$ 11,035.10 |
|
| c. |
$13,071.10 |
|
| d. |
$16,074.45 |
Solutions
Rahul Sunny answered 2 years agoRelated Solutions
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T
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23
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15
%
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12
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7
14
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11
5
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When we gain more? Explain why?
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